Massive Find in Alaska Made by Texas-based Firm

A large concentration of light-oil has been discovered in the North Slope region of Alaska by privately owned exploration and oil production company Caelus Energy LLC. The Dallas-based company announced its findings on Oct. 4, saying that the discovery will be a stronghold for the oil industry in Alaska.

The discovery was made in the Smith Bay via Caelus’ subsidiary. The company said in a state...